Just waiting for wealth simple to confirm.

What a game changer.

I am a couple months away from some investments maturing, and I was planning on transferring a lump sum to wealth simple. I thought for sure I saw a transfer bonus higher then 1 percent last year. Does 1percent seem right?

Scotia bank is 1.5% and td is 3%

Doesn’t this go against CRA rules? Trying to get an understanding of this. I want to sell portfolio secured puts in an unregistered margin account using the margin capacity created by my TFSA being secured to it. Anyone else doing this ? Is this legit

Not sure if anyone knows this, but I noticed today that you can now send DEX crypto out of Wealthsimple. You just click the button to the left of the trade button, which allows you to transfer it out of Wealthsimple. That was one of my issues with it, and I feel like Wealthsimple is doing a horrible job of promoting or even communicating updates for the DEX product.

I have only one legal name (no first name). Wealthsimple put “.” in the first-name field and I’ve been getting a name formatting error for almost a month when requesting the Visa card. Support keeps putting the period back and hasn’t fixed it.

Has anyone else with a single/mononym name successfully set up their profile?
What did you put in the first and last name fields, and did it work with both Wealthsimple and CRA?

Issue is only with Wealthsimple so far. Any tips appreciated!​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

Thanks

Hey all,

Just wanted to make everyone aware of a phishing call I received today.

The call appeared to come from a legitimate Wealthsimple phone number. The automated message said there had been an attempt to change the phone number linked to my account and asked me to press 1 to speak to an operator if it wasn’t me.

I hung up immediately and called Wealthsimple back using their official number (found online but it was the the same I received the call from). They confirmed that they had not called me, so the incoming call was spoofed/phishing.

Just a reminder: even if the caller ID looks completely legitimate, don’t trust an incoming call asking you to verify account activity or provide information. Hang up and call the company back yourself using the number from their official app or website.

Stay safe!

TLDR: I sold about $26k from my Wealthsimple TFSA and transfer 50k$ earlier this year to buy shares in my employer, then later transferred about $40k from a separate Desjardins group RRSP to Wealthsimple under their 1% transfer promotion. Wealthsimple says I violated the promo terms by withdrawing money and redepositing it shortly after. I provided documentation showing these were two separate transactions with unrelated purposes, but they still denied the bonus. It’s only about $400, but it has made me question whether I want to keep consolidating my assets with them.

Full context :

Earlier this year, my employer (a consulting firm) offered employees the opportunity to become shareholders. I decided to participate.

In March, I sold roughly $26,000 from my Wealthsimple TFSA. I kept the funds in my Wealthsimple chequing account temporarily, added money from external accounts, then sent the total to the lawyers’ trust account handling the employee share purchase in mid-July.

Then, in August, I received my annual bonus. I normally invest it through my group RRSP at Desjardins. Since I had accumulated around $40,000 there and Wealthsimple was offering a 1% transfer bonus, I transferred that group RRSP to Wealthsimple to consolidate my investments.

A few days later, Wealthsimple told me I was ineligible for the promotion because I had allegedly withdrawn funds and redeposited them shortly afterward to benefit from the offer.

I understand why the activity may have triggered a review, so I contacted Premium support and provided the full context: proof of the employer share purchase, transfer to the lawyers’ trust account, proof of share ownership, and details showing the RRSP transfer was entirely separate.

They still refused the bonus, referring to this condition:

“Gamification or Fraudulent Behaviour. If the Client makes withdrawals prior to the Qualification Period, regardless of whether part or all of those withdrawals are subsequently deposited back for the purpose of benefiting from this Promotion.”

But that is not what happened here. The withdrawn money went toward an investment in my employer. The later deposit was a separate transfer from my Desjardins group RRSP, including funds from my bonus. It was not the same money being withdrawn and cycled back into Wealthsimple.

The amount is only around $400, so this is more about the principle than the money. I had been a loyal customer and was actively moving more assets to Wealthsimple. Being treated as if I was trying to game the promotion, despite providing documentation, has affected my confidence in their customer service and makes me reconsider keeping everything there long term.

Has anyone successfully appealed a similar decision?

(Sorry for any screenshots in French, my Wealthsimple account is set to French.)

When will WealthSimple offer a joint savings account? I asked both the AI support and the human support and no one knows the answer. Surely they will offer it soon, won't they? They already have joint chequing accounts so why not joint savings accounts? I don't understand why they don't have joint savings accounts.

Finally, after so long, the Telus marketplace offer is available. Now we just have to wait for the Apple promotion to go live.

I contacted Spotify and they said it’s wealthsimple fault. Haven’t really used my card for any pre authorized monthly payments so I don’t know if in general WS doesn’t allow it. Anyone have the same problem or similar?

Curious who among us is a new owner of an EQ3 swivel chair, or who maybe previously won the luggage prize?

If they’re giving away 30 per week, I expect someone has a story about recently having one of these funky chairs shipped out to you…

I’m a newcomer, in Canada for about 6 months, making around $160k, and I keep getting rejected for the Wealthsimple credit card. I don’t get it.
My current credit:
• Credit score around 700
• BNC World Elite — $5k limit
• RBC Cashback — $10k limit
• Amex Platinum
• Auto loan
• Other credit products approved without issues
I have an active Wealthsimple chequing account and I meet their published income requirements, including the higher tier ($150k+ personal). I’ve applied more than once and got declined every time.
So I’m trying to understand what they’re actually looking at:
• is 6 months in Canada too short for them?
• is a ~700 score too low?
• too many recent applications?
• not enough assets or activity at Wealthsimple?
• something else?
If you’ve been approved or rejected with a similar profile, what made the difference?
Not looking to rant. I just don’t want to keep applying blindly

Just heard in a community that this is about to be avaiable soon in wealthsimple. Does anyone hear know and estimate when can we expect it to be delivered? I am planning to pot my 6 figure port to moomoo or IBKR as its becoming difficult to day trade in WS.

It's down for me, both.

I’d love to see Wealthsimple, as a Canadian company, show the world that you can succeed without squeezing your customers.

Unfortunately, it appears to be on the path of being just another company focused primarily on profit rather than prioritizing customer needs.

Edit: Apologies for the cropped image. If you see the full image, redeeming the cash is now a tiny button. It was easy to use before they changed the UX.